CSUF Bus Mktg 351 Exam 1 Review Questions |\ |\ |\ |\ |\ |\ |\
with answers
|\ |\
If a car company releases an affordable model, but the vehicle is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
only available in white, would it be successful in today's market?
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
a. No, because consumers have specific wants
|\ |\ |\ |\ |\ |\
b. Yes, the vehicle will be affordable
|\ |\ |\ |\ |\ |\
c. No, white color is not appealing
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d. Yes, there is always a market for any product - CORRECT
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ANSWERS ✔✔a. No, because consumers have specific wants |\ |\ |\ |\ |\ |\ |\
What is the American Market Association's definition of
|\ |\ |\ |\ |\ |\ |\ |\
marketing?
a. The activity, set of institutions, and processes for creating,
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
communicating, delivering and exchanging offerings that have |\ |\ |\ |\ |\ |\ |\
value for customers, clients, partners and society at large
|\ |\ |\ |\ |\ |\ |\ |\
b. The management of supply chain activities to achieve a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
sustainable competitive advantage |\ |\
c. Recording business transactions on behalf of an organization,
|\ |\ |\ |\ |\ |\ |\ |\ |\
reporting on company performance to management, and issuing
|\ |\ |\ |\ |\ |\ |\ |\
financial statements |\
d. Creating processes to secure and store all transactions with
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
customers - CORRECT ANSWERS ✔✔a. The activity, set of |\ |\ |\ |\ |\ |\ |\ |\ |\
institutions, and processes for creating, communicating, |\ |\ |\ |\ |\ |\
delivering and exchanging offerings that have value for |\ |\ |\ |\ |\ |\ |\ |\
customers, clients, partners and society at large |\ |\ |\ |\ |\ |\
, Which philosophy is focused on reducing cost?
|\ |\ |\ |\ |\ |\
a. Product philosophy
|\ |\
b. Sales philosophy
|\ |\
c. Societal philosophy
|\ |\
d. Production philosophy - CORRECT ANSWERS ✔✔d. Production
|\ |\ |\ |\ |\ |\ |\ |\
philosophy
What is product philosophy?
|\ |\ |\
a. Making sure the final product is received by the customers
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
b. Emphasizing push and hard selling
|\ |\ |\ |\ |\
c. Focusing on getting the best value to customers
|\ |\ |\ |\ |\ |\ |\ |\
d. Focusing on producing the highest quality goods - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔d. Focusing on producing the highest quality goods
|\ |\ |\ |\ |\ |\ |\ |\
An electric vehicle that offers a new, longer lasting battery at the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
existing prices is an example of a company focusing on:
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
a. Customer satisfaction
|\ |\
b. Relationship marketing
|\ |\
c. Customer value
|\ |\
d. Opportunity cost - CORRECT ANSWERS ✔✔c. Customer value
|\ |\ |\ |\ |\ |\ |\ |\
What is relationship marketing?
|\ |\ |\
a. Marketing team building a relationship with its peers in the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
service department |\
b. Developing and enhancing long-term relationships between a
|\ |\ |\ |\ |\ |\ |\ |\
seller and its customers
|\ |\ |\
with answers
|\ |\
If a car company releases an affordable model, but the vehicle is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
only available in white, would it be successful in today's market?
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
a. No, because consumers have specific wants
|\ |\ |\ |\ |\ |\
b. Yes, the vehicle will be affordable
|\ |\ |\ |\ |\ |\
c. No, white color is not appealing
|\ |\ |\ |\ |\ |\
d. Yes, there is always a market for any product - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔a. No, because consumers have specific wants |\ |\ |\ |\ |\ |\ |\
What is the American Market Association's definition of
|\ |\ |\ |\ |\ |\ |\ |\
marketing?
a. The activity, set of institutions, and processes for creating,
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
communicating, delivering and exchanging offerings that have |\ |\ |\ |\ |\ |\ |\
value for customers, clients, partners and society at large
|\ |\ |\ |\ |\ |\ |\ |\
b. The management of supply chain activities to achieve a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
sustainable competitive advantage |\ |\
c. Recording business transactions on behalf of an organization,
|\ |\ |\ |\ |\ |\ |\ |\ |\
reporting on company performance to management, and issuing
|\ |\ |\ |\ |\ |\ |\ |\
financial statements |\
d. Creating processes to secure and store all transactions with
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
customers - CORRECT ANSWERS ✔✔a. The activity, set of |\ |\ |\ |\ |\ |\ |\ |\ |\
institutions, and processes for creating, communicating, |\ |\ |\ |\ |\ |\
delivering and exchanging offerings that have value for |\ |\ |\ |\ |\ |\ |\ |\
customers, clients, partners and society at large |\ |\ |\ |\ |\ |\
, Which philosophy is focused on reducing cost?
|\ |\ |\ |\ |\ |\
a. Product philosophy
|\ |\
b. Sales philosophy
|\ |\
c. Societal philosophy
|\ |\
d. Production philosophy - CORRECT ANSWERS ✔✔d. Production
|\ |\ |\ |\ |\ |\ |\ |\
philosophy
What is product philosophy?
|\ |\ |\
a. Making sure the final product is received by the customers
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
b. Emphasizing push and hard selling
|\ |\ |\ |\ |\
c. Focusing on getting the best value to customers
|\ |\ |\ |\ |\ |\ |\ |\
d. Focusing on producing the highest quality goods - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔d. Focusing on producing the highest quality goods
|\ |\ |\ |\ |\ |\ |\ |\
An electric vehicle that offers a new, longer lasting battery at the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
existing prices is an example of a company focusing on:
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
a. Customer satisfaction
|\ |\
b. Relationship marketing
|\ |\
c. Customer value
|\ |\
d. Opportunity cost - CORRECT ANSWERS ✔✔c. Customer value
|\ |\ |\ |\ |\ |\ |\ |\
What is relationship marketing?
|\ |\ |\
a. Marketing team building a relationship with its peers in the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
service department |\
b. Developing and enhancing long-term relationships between a
|\ |\ |\ |\ |\ |\ |\ |\
seller and its customers
|\ |\ |\
